Heitman LLC (“Heitman”) and Erben, an Australian property development and investment firm, today announced the joint acquisition of Lot 19 at Perth City Link from the Western Australia State Government.
The site will be transformed into Western Australia’s largest purpose-built student accommodation (PBSA) asset, with approved plans for a 19-storey property spanning over 37,000 square meters in the heart of Perth’s central business district.
The acquisition marks Heitman’s continued expansion within the Australian student housing sector. Heitman was an early entrant in the Australian PBSA market in 2018, with the development of Infinity Place – a 335-bed property located in Melbourne’s Carlton district, adjacent to the University of Melbourne and RMIT – which it continues to own today.
“Fueled by student demand, Perth is experiencing substantial growth in higher education campuses, which is transforming its city center into a major Australian and regional education hub,” said Brad Fu, Managing Director and Head of Asia-Pacific Acquisitions for Heitman. “This development reaffirms Heitman’s long-term commitment to the Australian market, and we anticipate it becoming a focal point for the growing student community in Perth’s CBD.”
You can now read the full press release at the link below
